Scotiabank Has Lowered Expectations for Boralex (TSE:BLX) Stock Price

Boralex (TSE:BLX) had its price target dropped by research analysts at Scotiabank from C$42.00 to C$36.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 43.48% from the company’s current price.

Several other research firms have also recently commented on BLX. BMO Capital Markets lowered their target price on Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. CIBC decreased their target price on Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$40.88.

Boralex Stock Performance

BLX traded up C$0.40 during trading hours on Thursday, hitting C$25.09. The company’s stock had a trading volume of 84,556 shares, compared to its average volume of 336,542. Boralex has a fifty-two week low of C$24.40 and a fifty-two week high of C$36.68. The company has a current ratio of 0.95, a quick ratio of 1.54 and a debt-to-equity ratio of 175.24. The firm has a market capitalization of C$2.58 billion, a PE ratio of 26.98, a PEG ratio of 2.01 and a beta of 0.46. The company has a 50-day simple moving average of C$28.43 and a 200 day simple moving average of C$31.98.

Boralex Company Profile

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power.